Ted Cruz vs. The Big Banks – Quote of the Day

courtesy cnn.com

“The American Taxpayer gave Citigroup $20 billion in cash and hundreds of billions more to guarantee its bad investments – the most in cash and guarantees from the American taxpayers of any financial institution. Bank of America likewise received a taxpayer bailout of $45 billion and a guarantee of $118 billion against potential losses. In short, your banks exist today only because of the (perhaps foolish) largess of the taxpayers whose constitutional rights you are now trying restrict.” – Senator Ted Cruz in Ted Cruz rips banks’ split with gun industry, says it’s ‘designed to placate liberal activists’ [via dallasnews.com]

 

 

comments

  1. avatar Sam I Am says:

    Again I ask: what is the difference between federally chartered banks and privately owned bakeries?

    Again I ask: Where is NRA? Where are the lawsuits alleging restraint of trade and interference in interstate commerce?

    1. avatar Gov. William J Le Petomane says:

      The difference is the LGBTQWERTY crowd will scream bloody murder to all their allies in the liberal media and to their SJW judges if they don’t get their way, while gun owners just show up in November and vote.

      1. avatar El Bearsidente says:

        You forgot the silent H in the letter salad.

        1. avatar Sam I Am says:

          According to Slate magazine, the correct allocation of letters is LGGBDTTTIQQAAPP (sometimes including a “+” at the end to accommodate growth).

        2. avatar Gov. William J Le Petomane says:

          I can only remember 5 letters so I have to improvise.

        3. avatar Geoff PR says:

          Sam, that list will only grow until it exhausts an infinite number of letters .

          I hereby propose we simply call it the ‘Sexuality or lack of sexuality spectrum’.

          That’s as inclusive as you can get…

        4. avatar Pyratemime says:

          That looks like a word in Greenlandic.

      2. avatar Sam I Am says:

        “The difference is the LGBTQWERTY crowd will scream bloody murder to all their allies in the liberal media and to their SJW judges if they don’t get their way, while gun owners just show up in November and vote.”

        That is a given. But the laws that close bakeries apply to every attempt to discriminate against customers. I just don’t see a legal difference here.

        1. avatar Gov. William J Le Petomane says:

          There is no difference. Laws don’t matter to the lawless.

        2. avatar Sam I Am says:

          “Laws don’t matter to the lawless.”

          Looks like they don’t matter to all our lobbying groups either.

        3. avatar Chris T from KY says:

          The difference is homosexuals are socialist progressive in their political orientation. That is why they are complete hypocrites when it comes to Liberty.

          To them sexual freedom is paramount. Not individual liberty. White Libertarian homosexuals make the argument racial discrimination is ok because, its the right of the business owner. But that does not apply to a Christian baker.

          Also white homosexuals have no problem historically buying a gun. But they do say its ok to racially discriminate against a black gun buyer, in a private business. Which is why mail order is how blacks historically bought guns and ammunition.

          Also white homosexuals say they are a “minority”. They say their struggle is just like black people’s struggle!?!?

          It is the elected homosexual leadership in California lead by Tom Ammiano, who wrote the law making rape victims, and everyone else, wait up to 10 days extra to get a gun.

        4. avatar Ing says:

          The difference is government. If you or I do it, it’s a crime. If government does it, it’s good.

        5. avatar Chris T in KY says:

          Slap (Ing)
          You like many are avoiding the question. Jim crow was the government. This about private action. White Libertarians (homosexual or not) support private business discrimination went it applies to black people. But they do not apply it when it comes to private business sexual discrimination. The question is why?

          I think white libertarians are just as racist as the people they complain about. Its just the other people are honest about their own racism. White libertarians are just using “educated language” to hide racism from themselves and others.

          If white libertarians were consistent I would respect them. They are not. I have more respect for the honest klansman than a white libertarian. White Libertarians lack reason in making arguments.

      3. avatar Big E says:

        I think “DEVIANT” is a great catch all.

    2. avatar Bob999 says:

      “Where is NRA?”

      The NRA-ILA just had its largest donation month in history, something like $2.5 million. Sounds like a lot, right? It really isn’t. A single lawsuit against a bank that has billions of US dollars that is determined to bankrupt its accuser can push the cost of litigation into the tens of millions sucking the NRA-ILA dry.

      Frankly, to expect the NRA to charge up to fight and die on every hill is not reasonable. This is a strategy game. This is about winning the war, and the winners will be the ones who pick their battles carefully. Besides, isn’t the NSSF that should be fighting this battle?

      1. avatar Sam I Am says:

        “This is a strategy game. This is about winning the war, and the winners will be the ones who pick their battles carefully. Besides, isn’t the NSSF that should be fighting this battle?”

        Strategy? The banks are trying to strangle gun manufacturers (and distributors) out of business. And our strategy should be “wait for an easier battle?

        NRA, NSSF, GOA, GSL, RMGO, all the soup organizations should be looking at this as an existential threat.

        1. avatar Geoff PR says:

          “Strategy? The banks are trying to strangle gun manufacturers (and distributors) out of business.”

          It’s worse than that. They are now actively attempting to gather data on the purchases of gun owners. That is data they are planning to eventually use against us.

          Sam, I can easily see where that is heading. The picking of sides.

          The end result is not going to be good. It’s just a small step to banks deciding they ‘don’t want to do business with *those* kinds of people’ mindset. To them using that data to decide if they want to ‘discourage’ doing business with a class of people.

          A ‘class’ that they have decided who belongs to it.

          This is a modern version of ‘Redlining’ in action, except a class of people vs. a geographical housing area…

        2. avatar Sam I Am says:

          Wouldn’t it be interesting if all the brain trusts at the name brand “gun rights” organizations formed a consortium to launch a financial services company dedicated to all things “guns”?

          Rather than spend money on lawsuits enforcing civil rights of gun owners, just use the turmoil as an opportunity to suck up all the money the commercial banks have decided to throw away (stockholders: Why are you not suing for breach of fiduciary responsibility on the part of your hired help [corporate management]? Do you really agree with reducing the value of your company ownership to make a political statement?)

        3. avatar Bob999 says:

          Okay, let me put this another way. would you rather have the NRA put that money into a lawsuit they will likely lose (remember, the Supreme Court is not taking 2nd amendment cases) or would you rather they put that money into candidates for office that will enact laws that will make it unlawful for banks to discriminate against gun owners and the firearms industry? Look, no matter how much we want the NRA to fight every battle to the last man and dollar, they can’t and shouldn’t. It sucks, but this about money and the one who spends it more wisely wins.

        4. avatar Sam I Am says:

          You are narrow-focused. The issue is not 2A, but civil rights in commerce. The action by the banks is discriminatory; refusing to do legal business with a disfavored segment of the public. I see this as no different than the civil rights claims that shut down bakeries.

          The banks have put up signs declaring, “We reserve the right to refuse service to anyone”, Recognize that? The banks are not denying us any of our rights under the second amendment. They ARE denying us our civil rights to lawfully engage in lawful commerce (no, “there are other banks available” doesn’t work any better than “there are other bakeries willing to make your cake”).

        5. avatar Geoff PR says:

          “Wouldn’t it be interesting if all the brain trusts at the name brand “gun rights” organizations formed a consortium to launch a financial services company dedicated to all things “guns”?”

          It will become the number one target of Leftists using weaponized courts, IE, chosen activist judges. To sue it for *anything* and everything, using the effectively infinite finacial resources of Soros, et all.

          This isn’t a game for them. They are out for our destruction…

    3. avatar Green Mtn. Boy says:

      Where is Negotiating Rights Away,Wayne and Chris are tabulating their accounts.

    4. avatar tdiinva says:

      The NRA has no standing to file under the Sherman Act because they are not engaged in the sale of firearms. NSSF is the industry trade group. They are the organization the represents the firearms industry.

      1. avatar Sam I Am says:

        “Standing” is not the only consideration. NRA (and others) have as their members people representing gun manufacturers and distributors. Restraint of trade (which is illegal) is harming the members of the pro-2A lobbying groups. Yet….a thudding silence.

        We (POTG) and affinity groups should be in full-throated demand that the DOJ should file a civil rights suit against banks interfering with interstate commerce. Such a suit would provide “standing” for “gun rights” groups to file amicus briefs supporting DOJ.

        While on one hand I think private businesses should be able to do as they see fit (with no federal interference), the leftists in this country are not shy about filing civil rights suits for any inconvenience at all. POTG should be just as willing to sue the opposition until they cannot breathe.

        As noted, this boycotting of gun manufacturers and distributors is a hair’s breadth away from compiling a sharable database of firearms related purchases by individuals. The calculation has been made: there are not enough gun owners as customers to do any real damage to the bottom line.

        Again, this is all resenting an opportunity for creative destruction. Rather than decry the actions of a few banks, step-in and create a banking unit that is a home for all things gun related.

        1. avatar tdiinva says:

          I guess you don’t know much about anti-trust law. You need to suffer direct financial harm to have standing to file under the Sherman Act. The NRA has none.

        2. avatar Sam I Am says:

          Anti-trust laws are not germane. This is a civil rights action based on illegal discrimination and interfering with commerce. It is also a matter of interfering in inter/intra state commerce. Interfering with commerce is not an anti-trust issue. It is how the the feds broke up “separate but equal”.

          If a corporation (or any business) uses the interstate transportation system, they are subject to all federal laws. If a business entity withholds product from the market, it is interfering with the marketplace/commerce (SCOTUS ruling; Wicard v. Filburn [1942]; “the Supreme court found only two narrow laws to lie beyond Congress’ constitutionally enumerated powers”

          The banks are damaging the members of the NRA (and other organizations), thus establishing a “class” – NRA members.

        3. avatar Geoff PR says:

          ” If a business entity withholds product from the market, it is interfering with the marketplace/commerce (SCOTUS ruling; Wicard v. Filburn [1942]”

          Is it market interference when the *government* is doing the interfering?

          Like California banning the sale of ammunition by mail – internet?

          Cali has deemed that a crime. It must be purchased in Cali, through an FFL, face-to-face, and with a NICS check.

          I’m beginning to get the impression a very large can of worms has been opened here…

        4. avatar Sam I Am says:

          “Is it market interference when the *government* is doing the interfering?”

          SC says so. There are a few decisions that went against states, and some the other way.

    5. avatar JasonM says:

      The real difference:
      One of these industries spends about a BILLION dollars each year on congressional bribes lobbying and campaign donations.

      Guess which one it is.

      1. avatar Sam I Am says:

        All the more reason to abandon the political/lobbying angle and go for the throat with a class action civil rights suit. Not the violation of the second amendment (which isn’t really germane until there are no manufacturers or distributors), but violation of commerce rights (alternative outlets are not germane), just as with the suits against bakers and artists.

        1. avatar Geoff PR says:

          “abandon the political/lobbying angle and go for the throat with a class action civil rights suit.”

          Sam, I have to say, I really *like* the way you think…

          *snicker* 😉

  2. avatar Bob999 says:

    I am refinancing a $250k loan from BoA to another bank. It will cost me a bumdle to do it, but it is the least I can do for a company that is a traitor to the country that kept their rich investors rich. It may be pocket change to them, but if enough people do it, it will end this corrupt company.

    So, what are you doing to end these politicized, extreme leftist companies?

    1. avatar Sam I Am says:

      “I am refinancing a $250k loan from BoA to another bank. ”

      Bankers can be a weird lot. I refinanced via one of those brokers who do not charge fees (or roll them into the loan). My mortgage company was Wells Fargo. The re-fi loan would also be placed with Wells Fargo. Being curious, a call went out to W-F to learn if they would give me the same rate (current rate I was paying was $112 higher than the re-fi would be) as the broker. The W-F representatives claimed they never heard of a no-cost re-fi that wasn’t rolled into the loan, and that their re-fi rates were a percentage point higher than I was offered via the broker. The first-level supervisor said that W-F would not accept a loan of the type I was explaining. She was wrong.

    2. avatar Jimmy says:

      Nice. Very nice. Well, I don’t have any loans now so I cant dump their butts like a hot potato like you did. However, I have made a conscious effort to not purchase any more products or do any other services from the businesses I’m aware of. Shame too, because a new field & stream opened last year about 50 minutes from my home. I now drive right past it another 20 minutes to get to bass pro if the local places don’t have what I’m looking for. I live in a small town so we don’t have much when it comes to sporting stores. In addition to that, I try to have a strong voice about our rights, support 2a groups, and probably the most important thing is to VOTE these anti-2a (and entire constitution ) communists out of any elected office. We definitely need way more people to stand up AND ACT to get this going in the right direction again. Thanks for doing your part. Have a great day!

      1. avatar Sam I Am says:

        ” I now drive right past it another 20 minutes to get to bass pro”

        You drive to Bass Pro? Why, when I was a mere lad, we walked fifty miles to the hardware store and back; uphill both ways. If the weather was bad, we made whatever we needed in the barn. And we were happy to have it ! (lights-up Cubana cigar).

        1. avatar Tom in Oregon says:

          And if it was icy out, we wrapped our bare feet, (we couldn’t afford shoes), we wrapped our feet in barbed wire to get traction.

        2. avatar Sam I Am says:

          You had barbed wire? We had to make do with coat hangers strung along twine attached to tree branches shoved in the ground. And we were grateful to have dirt to put the branches in.

        3. avatar Ralph says:

          “we wrapped our feet in barbed wire”

          You had feet? Lucky dog. We had to walk on our hands.

  3. avatar GS650G says:

    I don’t do any business with these banks. My bank is a federal credit union and my mortgage is with a small local bank. Neither care what I buy.

    1. avatar Bob999 says:

      Awesome. Small, local banks rock. For me, I bought an RV from a bank that sold my loan to BoA. Now I get to refinance to get away from that treasonous company.

    2. avatar Accur81 says:

      I just switched to a credit union for my mortgage as well.

    3. avatar JasonM says:

      I do most of my banking with USAA. Given their strong connection to the military, it’s no surprise they are very accepting of guns. I tried to get my mortgage with them, but they (like most banks) don’t consider RSUs income, so I went with FirstTech Credit Union.

      My only account with one of the big banks is my Amazon Visa card with Chase. I’d dump it, but it gets 5% cashback at Amazon.

  4. avatar Mike says:

    2 guys’ S* list you do NOT want get on: Ted Cruz and Trey Goudy. Took the scissors to my card, going q

    1. avatar Geoff PR says:

      I’m bummed Goudy is bailing on Washington. We need more folks like him there.

      Maybe park him on SCOTUS?

      1. avatar Sam I Am says:

        “Maybe park him on SCOTUS?”

        Think I read somewhere Gowdy is “tired of politics”.

      2. avatar Raoul Duke says:

        Gowdy is a fraud.

        All bark and no bight. He didn’t do shit but put on a show to fool you all to think there was any justice in DC for the little people.

        He is (was) controlled opposition.

        1. avatar Huntmaster says:

          Yeah… I waited for him to do something other than pontificate also. Grandstanding, only thing he ever did.

  5. avatar Jay in Florida says:

    Just found out last night Citibank runs PayPal too.
    These banks are everywhere. I have no cards left to cut up!!!
    Why in heck did Obslama bail these banks out. We should have let them all fail back then.
    Then start all over with smaller private banks like it used to be..

    1. avatar Raoul Duke says:

      To be fair Bush started the whole bailout BS.

      The government is full of frauds on both sides.

  6. avatar Moltar says:

    I think we need to regress just a tad and go back to a time when banks didn’t give a shit what you did with their money so long as you used them for all your money needs. Same for every other business out there. Too many CEOs are using their company to make a political statement these days. They all need to just shut the hell up and sell me their product/service at a fair value, if it’s a good quality product that serves a need, I’ll buy. I don’t need their virtues to align with mine I just need whatever it is they’re selling. It is getting seriously tiring to try to avoid every company that has made the slightest anti 2A statement (like not selling those copies of Shotgun News nobody was buying anyway).

    1. avatar PistoleroJesse says:

      “They all need to just shut the hell up and sell me their product/service at a fair value”

      I guess you missed the part where that became a political proposition inandofitself.

      Who is John Galt?

      1. avatar Moltar says:

        That’s the problem. Everything literally EVERYTHING is political today. Moltar can’t even wear his silk leopard print thong and matching plate carrier to the range without someone saying he’s a communist because he wears Victoria’s Secret. No it’s just cradles Moltar comfortably as he operationally operates at the firing line in operational operations.

        That reminds me I need to get around to reading that book and a few others.

  7. avatar Joe R. says:

    The bank F’rs are pushing communism, all the way up until they get to do satan’s-ass-suck muslim sharia.
    https://lastresistance.com/sharia-compliant-banking-in-america/

    At some point, they’ll have to get a bulldozer/backhoe/and flame-thrower to them, and the people will have to be hunted to the edge of the solar system.

  8. avatar Indiana Tom says:

    In short, your banks exist today only because of the (perhaps foolish) largess of the taxpayers whose constitutional rights you are now trying restrict.”
    Glad, somebody pointed that out.
    Yeah, but “they were too big to fail”.
    Of course this is how the Wall Street Financial Community works. These are the Global Elites who want a New World Order.

  9. avatar Chadwick says:

    The answer is and always will be less government intervention. You can’t fix government intervention with more government intervention. The solution is no more bailouts and let companies discriminate however they see fit as long as they don’t actively infringe on your rights. If there is no publicly held interest in a company then they only need to answer to their share holders and their customers. That way you have the freedom to not patronize their establishment and they have their freedom to run their business as they see fit.

    Now as far as not allowing guns in an establishment I would say that’s fine unless you have any form of government help or tax credits involved in your business and then you must not infringe on the rights of your investors who are the tax paying public. Easy peasy.

    1. avatar Sam I Am says:

      “let companies discriminate however they see fit as long as they don’t actively infringe on your rights.”

      The banks are discriminating against your federally guaranteed right to engage in lawful commerce, to not be punished for who you are (so long as you act within the laws). This is no more complex than lunch counter discrimination.

  10. avatar former water walker says:

    Ted Cruz 2020…I hope he wins Texas. I sure wouldn’t want to be in his crosshairs. Figuratively or literally. It’s a shame so-called pro-2A pols like little Marco Rubio are turning traitor. F##k these banks😡Herr Trump needs to a lot more than blather.

  11. avatar A Johnson says:

    My decision has been made,

    I’ve notified my advisor that I’m shutting down my BOA accounts..

    Monday I will start transferring assets out of all my BOA accounts.

    Good luck BOA.. I can’t support your political agenda..

  12. avatar Gun Owning American says:

    These banks need to be boycotted into bankruptcy.

    1. avatar Jonathan-Houston says:

      Even the POTG had that kind of clout, these banks are deemed “too big to fail.” At best, you’d be boycotting these banks into another federal (read: taxpayer) bailout.

  13. avatar Jim Bullock says:

    They told me “bailing out” the banks was like equity kicking in to sustain a company in distress, while they straightened themselves out. They’d get better n we’d all be better off. Now they’re taking a run at some of their investors.

    Fine. Buy me out n you can do what you want.

    There’s always an argument about which numbers to use, BUT the calculation looks something like this: Say there’s a trillion dollar bail out, and 300,000,000-ish Americans kicking in. That’s something like $3,000 each. (Did you get $3,000? Did you realize that was yr personal contribution?) At-risk equity funds look for a raw return around 18% / year. It’s been … 10 years?, 8?, 5? That’s about 3.5 x the investment, at the low end. Closer to 16x at the high.

    Fine. My offer is B of A-holes can pay me $30,000 and I’ll go away. Otherwise, I have ownership rights n being no-platformed by people I own, well, see you in court. Being part owned by “the American people”, n yr quasi govt. Civil rights, equal protection, n expanded interpretations, bere we come. A “bump stock” is a machine gun? “Disparate impact” counts as discrimination? Fine. Denying gun transactions is red lining. See you in federal court.

    I look forward to Senator Debate Team introducing the “No Chance, but the Point Is We Own The Place” banking act, maybe cosponsored by Rand Paul. Yeah, “we” shouldn’t have done that but since we did…

    Maybe follow that with the “More Banks, Better” unwinding of “Make More Heap Big Banks Too Big to Fail” act. They found a way to fail – banks too big. So, they passed a law to make more of those. Truly clever.

  14. avatar sam_everett says:

    Didn’t his wife, while working at a bank. Assist in writing the “New American Century” paper?

  15. avatar Jonathan-Houston says:

    If you live in the Houston-ish area, or you’re OK with banking just online, you might want to check out Chappell Hill Bank in Chappell Hill, TX. They have a very pro-2A stance. They even have a sign welcoming carrying customers.

    1. avatar Geoff PR says:

      “They even have a sign welcoming carrying customers.”

      Does the sign request it remain holstered ‘unless necessary’?

      1. avatar little horn says:

        what the hell kind of question is that? do you have a habit of just pulling your gun out for no damn reason? or are you just being the troll of the day?

  16. avatar GoD says:

    Get that money back with 100% interest see how they like that

    1. avatar little horn says:

      pfft. the banks OWN everything. the government, radio, tv, everything. even us. if aint good for the banks, it aint gonna happen. the last 50 years are solid proof of that.

  17. avatar Docduracoat says:

    Under our capitalist system this should be an opportunity
    Bank of America wont lend to gun companies or let you use your credit card to buy from gun companies?
    Here is a niche market for a financial organization to enter
    There are many here who would get a card from a 2 nd amendment friendly company
    Guns are a huge business and gun companies can be very profitable
    Keltec, Barret, Bersa, Sig, Steyr, Spikes, Larue, Glock, Walther, all need to use banks for deposits, loans, credit card clearance, checking etc.
    Here is a chance to grab millions of dollars in business from companies that will all be still in business 50 years from now

  18. avatar Model 31 says:

    Gadsden Freedom Bank has a nice ring to it. I’d invest a little to get it up and going.

  19. avatar Mad Max says:

    What the banks are doing may already be unlawful under multiple Federal laws. Maybe, gun owners will need to be a protected class via Federal law (sad).

    I guess Wells Fargo might get saved from all of their recent bad publicity since they are sticking with the NRA and the firearms industry (so far) so they’ll probably get increased business.

    If they stick to thier guns (pun intended), they might get me back as a customer. I’ll have to wait and see.

  20. avatar little horn says:

    damn, well put.

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